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Banc of California redeems all $42M of SBLF preferred stock

Irvine,Ca.-based Banc of CaliforniaInc. has completed the redemption of an aggregate of $42 million ofits series A senior noncumulative perpetual preferred stock and series Bnoncumulative perpetual preferred stock, according to an April 4 news release.

Both wereissued to the U.S. Treasury under the Small Business Lending Fund program, thecompany said. According to SNL data, thecompany issued $32 million of series A shares in 2011 and $10 million of seriesB shares in 2013.